South Asia: India competes well with Bangladesh, Pakistan; buys Green units

Buyers of scrapped ship in Alang are competing with their competitors by booking a couple of Green (Hong Kong International Convention-compliant) containers for recycling last week. Meanwhile, ship recycling prices remained stable last week in India, Bangladesh and Pakistan.

India

India has managed to conclude a couple of deals well above $600/LDT mark. The Indian rupee (INR) remains positively firm at 74.2 against the US dollar. Steel prices also remain firm. According to sources, scrap movement at Alang's ship-breaking yards has resumed after a couple of weeks. The activities were suspended due to the strike announced by transporters protesting against skyrocketing fuel prices.

• Dole of USA concluded the Dole Ecquador (8,327 LDT) at a whopping $625/LT - for HKC green recycling.
  
  
• A reefer container, the Dole California (8,314 LDT), was concluded at $645/LT.
  
  
• A chemical tanker, Sky (2,564 LDT), was beached at the port.
  
  
• Two OSVs, Albatross 07 of 1,241 LDT and Tag 7 (1,808 LDT), were also beached.
  
  
• Total tonnage at Alang Port last week amounted to 10,509 LDT, down by 62% w-o-w.
  
  

Bangladesh

There was a noticeable reluctance from Chattogram buyers, as most local recyclers wished to see the direction in which steel prices would move in the coming week, before getting back into the bidding. According to sources, due to the recent Chinese declaration that they will not be exporting steel, the outlook on steel is more likely to remain firm as many are expecting this to be temporary.

• Two reefers, Celtic Ice of 1,445 LDT, and Defeng of 1,984 LDT, arrived at Chattogram Port.
  
  
• An FSO, G Star, of 42,686 LDT, was also beached at Chattogram.
  
  
• A tanker, Everti, of 18,921 LDT, arrived.
  
  
• Total tonnage reported last week at Chattogram Port was 85,436 LDT, up by 53% w-o-w.
  
  

Pakistan

Gadani recyclers are often competing for tonnage and paying well-above local market prices, just to keep their plots booked and yards active. According to sources, many buyers are expecting the prices to remain stable going into the second half of the year.

• Two barges, Farad (1,900 LDT) and Rownak (1,875 LDT), were beached at Gadani Port.
  
  
• A tanker, Aston I, measuring 8,273 LDT, was also beached.
  
  
• Total tonnage at Gadani Port last week was reported at 12,048 LDT, down by 69% w-o-w.
  
  

Prices as on 16th Aug'21

Prices in $/LDT
Source- SteelMint Research